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Bulgaria’s MonBat Jan-Sep pre-tax profit rises

Bulgaria’s MonBat Jan-Sep pre-tax profit rises wavebreakmedia/Shutterstock.com

SOFIA (Bulgaria), October 26 (SeeNews) - Bulgarian car battery manufacturer MonBat [BUL:5MB] said its consolidated pre-tax profit grew by an annual 6.4% to 22.9 million levs ($13.8 million/11.7 million euro) in the first nine months of 2017.

The company's consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 6.7% year-on-year to 35.2 million levs in January-September, MonBat said in a bourse filing late on Wednesday.

Consolidated net sales revenue increased by an annual 27.1% to 228 million levs in the review period.

In September alone, MonBat’s pre-tax profit increased 15.1% year-on-year to 2.4 million levs, while consolidated net sales rose by 25.8% to 32 million levs.

MonBat operates four plants for manufacturing and recycling of lead-acid batteries, diodes and light-emitting diode luminaires.

(1 euro = 1.95583 levs)

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